Bitcoin Price Analysis, Ethereum, Ripple on 07.11.2020

Sellers have stopped the rise in the BTC price, but there are no large sales volumes yet. Will the bulls continue to run?

BTC / USD

Yesterday, the Bitcoin price stopped growing and moved sideways all day. The upper trend line of the ascending channel acted as support. 

Before the end of the day, the sellers managed to piercethe upper border of the blue corridor, but until the morning the pair remained above the trend line. If the bulls are able to increase volumes and continue to grow, they will test the 78.6% fib level (16125.65 USD). 

If the bears increase their pressure and break through the support of the trend line, then a return to the blue channel will lead to a rollback to its lower border. 

ETH / USD

Yesterday, during the day, the price of ether renewed its weekly maximum at 447.00 USD and stopped growing until the evening. 

After midnight growth resumed. Buyers broke above the 450.00 USD mark and pierced the ascending blue trend line, but until this morning they failed to gain a foothold above it. 

Currently, the price of Ethereum has rolled back andconsolidates in a narrow ascending corridor, the upper limit of which is the resistance of the trend line. If the bulls manage to break through this resistance over the weekend, then growth will continue to the lower border of the wide green corridor (480.00 USD). 

If the bears do not allow the price to break through the resistance of the blue trend line, then the pair may roll back to the support of 420.00 USD. 

XRP / USD

Yesterday the altcoin market remainedrecovery dynamics and the price of Ripple were able to break above the upper border of a wide sideways corridor (0.260 USD). It didn't work the first time. Only at the end of the day the pair found support for the green trend line and tonight set a two-month high at 0.268 USD. 

In the morning, the price rolled back a little, but we believe that the upper border of the side corridor will be able to provide support to the XRP price and the pair will continue to grow towards the resistance of 0.280 USD. 

If the bears return the price to a wide side corridor, then the rollback will continue to the area of ​​average prices. 

* All price values ​​are based on data from the BitStamp exchange

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